Plex, iOS, half price, £1.49 @ App Store

We recently mentioned the Plex Android app (still selling for £1.27, incidentally), and here the iOS version is half price, too, currently going for £1.49 at the App Store. Plex is, in a nutshell, a personal media organiser.

Can someone correct me: this app only 'organises' your cloud based media, right? The WP version doen't show local files LOL...
In other words, it's the perfect phishing tool? Perfect to find out what illegal copies you store here, there and everywhere?

If I'm wrong, tell me. If I want to use that app to stream my own copies from the cloud, why not just stream the same stuff from one of the 9,878 sites on the webs? Instead of granting Plex...um...access? Gawd, I'm either too old, or too stupid or too cynical...